Balsm Alofoq Approves Interim Dividends Authorization, Rejects Auditor Appointment

Balsm Alofoq Medical Co. announced on Monday the results of its Extraordinary General Assembly Meeting (first meeting), which included shareholder approval to authorize the Board of Directors to distribute interim dividends on a semi-annual or quarterly basis for FY2025.

Other resolutions included:

• Approval of the Board’s and auditor’s reports and financial statements for FY2024.

• Approval to discharge Board members from liability for FY2024.

• Rejection of the proposed appointment of a new external auditor for FY2025 and H1 2026.

• Approval of amendments to the Company’s Articles of Association, including:

  • Amendment of Article 13 (share trading)

  • Deletion of Article 14 (shareholders’ register)

  • Deletion of Article 44 (General Assembly circular resolutions)